Sunday, 5 August 2012

QE 3 in September?

"U.S. jobs data showed that the nonfarm payroll report for July produced 163k jobs. That sounds alright at first glance, however, the Household Survey conflicted with the Establishment Survey, in that it concluded 195k net individuals actually lost their jobs last month; and that the unemployment rate ticked higher to 8.3%.

Americans continue to leave the workforce—150k left last month—while our unemployment rate has now been above 8% for the last 41 months. That stubbornly high and rising unemployment rate will likely cause Mr. Bernanke to announce QE III in September...."

- Michael Pento, via a recent King World News interview, read the full interview here: